Experts Say Cannabis Industry Helped Lower Canada’s Unemployment Rate

According to new data, Canada’s unemployment rate dropped to one of its lowest levels ever last month. Interestingly, the country’s rapidly growing legal cannabis industry played a notable role in this trend. And at this point, it seems likely that the industry will only continue to grow as demand for legal weed remains strong.

New Employment Stats

The newest employment stats are for November 2018, and they were recently published by Statistics Canada. According to these numbers, unemployment in Canada fell by 0.2 percentage points in November.

Overall, that drop put the unemployment rate at 5.6 percent across the board. Notably, Statistics Canada said that is the lowest it has been since employment data was first gathered back in 1976.

The report also said that employment rates were up in six Canadian provinces. Additionally, the report said that private sector jobs showed the most growth.

Meanwhile, public sector jobs remained more or less the same. Similarly, self-employed numbers also remained relatively unchanged.

Legal Weed Industry Showed Massive Growth

Interestingly, Statistics Canada devoted a sizable portion of its report specifically to the cannabis industry. After weed became legal on October 17, the country’s legal marijuana industry has seen strong growth.